As food demand continues to rise with population growth and dietary shifts, the demand for fertilizers should keep growing. So, we think it could be wise to add quality fertilizer stocks Nutrien (NYSE:NTR), The Mosaic Company (NYSE:MOS), and ICL Group (ICL) to one’s portfolio. Read on.The demand for fertilizers has remained relatively stable even as COVID-19 pandemic-led restrictions impacted the fertilizer market thanks to a growing global population and dietary shifts in emerging economies. These factors are driving the demand for food higher, and with it an increasing demand for fertilizers.
According to a Global Market Insights report, the global fertilizer market is expected to reach $210 billion by 2027. This year, the prices of fertilizers, primarily phosphates and urea, surged due to soaring demand and higher input costs. Moreover, according to World Bank Blogs, fertilizer prices are expected to stay high through the remainder of the year.
So, we think it could be wise to scoop up the shares of fundamentally strong fertilizer stocks Nutrien Ltd. (NTR), The Mosaic Company (MOS), and ICL Group Ltd (ICL). They are expected to generate significant returns in the coming months based on their solid financials.